Centre readying an economic plan to mitigate coronavirus effect, says FM

The central government may come up with an economic package to prevent COVID-19 pandemic from causing deep seared harm to the economy.

An indication on the package was given by finance minister Nirmala Sitharaman in a tweet where she also said that a press conference would be addressed at 2 p.m. on Tuesday, specifically on statutory and regulatory compliance matters.

"Even as we are readying an economic package to help us through the Corona lockdown (on priority, to be announced soon) I will address the media at 2 p.m. today, specifically on statutory and regulatory compliance matters Via video conference," said the tweet of the finance minister.

Indian economy that had already slowed down before the outbreak of coronavirus pandemic, is in for a more difficult period in coming months with businesses almost coming to a standstill. Finance ministry and the RBI have taken several steps to ensure liquidity in the system remains intact. But the industry has called for more stimulus measure to fight depression like conditions setting in the economy.